HK's unemployment rate dips to 3.2% in May-Jul

Hong Kong's seasonally adjusted unemployment rate fell from 3.3% in Apr-Jun period to 3.2% between May and July this year, the lowest level since early 1998, according to the latest labor force statistics released by the SAR's Census and Statistics Department on Monday.

Decline in the unemployment rate (not seasonally adjusted) in the May-July period were mainly seen in the construction, transport and import/export trades sectors.

The figures also showed the underemployment rate remained stable at 1.9% from April to July, and the decreases were mainly recorded in the decoration and maintenance, welfare and community services and sanitary services sectors, offsetting rises in the foundation and superstructure construction, and amusement and recreational services sectors.

During May-Jul period, total employment rose to 3,534,200, an increase of 1,400 from 3,532,800 in Apr–Jun.

In the same period, the labor force increased by 4,500 to 3,658,800 from 3,654,300, mainly due to fresh graduates and school leavers entering the job market.

Meanwhile, the number of unemployed people (not seasonally adjusted) rose by 3,100 to 124,600 in May-Jul from 121,500 in Apr-Jun with the number of underemployed increasing 2,100 to 69,900.